12 September 2013
I m an individual and having business income. I m not able file IT return for FY 2011-12. My bussiness turnover is aroung 50 Lacs. Now i want to file return for FY 2011-12. My question how much interest or tax penalty is leviable and shall i able to file return for fy 2011-12.
12 September 2013
yes, you can file your return as belated, with penalty of Rs. 5000/- u/s 271 F and on tax liability you have to pay interest u/s 234 a b & C whichever is applicable
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